NEW YORK CITY-Denver-based Hotel Real Estate Counselors has formed a joint venture with Stamford, CT-headquartered Rochdale Capital Advisors and and Carlsbad, CA-based Real Capital Markets (RCM) to create Hotel Debt Trader, a hotel loan sale advisory group. The advisory, based in New York City, will focus on performing, subperforming, nonperforming and REO assets. The companies will combine HREC’s hotel and property sales expertise with Rochdale’s note sale expertise.
Although not exclusively, the advisory’s focus will mainly be on the sales side to meet a perceived market demand as a number of distressed and REO hotel assets are anticipated to come onto the market by the end of 2011.